Emerge Medical Targets $92 Billion Medical Device Market With Lower-Cost Generic Implants and Instruments
"Hospitals are increasingly pressured to cut costs while continuing to deliver quality medical care. Emerge Medical was created to meet this critical need," said John Marotta, CEO of Emerge Medical. "Our supply chain model offers hospitals and physicians high-quality products at a significantly lower cost, changing the way medical device sales are approached and empowering hospitals to improve efficiency. Emerge's present focus is on the orthopedic trauma market, but our vision is to apply our generic device platform to the larger orthopedic, sports medicine and spine market; and ultimately to the entire $92 billion medical device industry."
Emerge Medical focuses on core devices that are easily standardized for use across multiple procedures and have low physician preference, meaning that physicians are not partial to a specific brand. The company further addresses healthcare costs by working directly with hospital administrators, department heads and surgeons to reduce the add-on expenses typically associated with medical device sales forces. These factors enable Emerge Medical to transfer savings of up to 50 percent to its customers. Additionally, all products are manufactured domestically in the U.S. to ensure the highest quality.
"High selling, general and administrative costs are built into the price of many medical devices, yet there has been little innovation in many core, basic products for over a decade," said Zach Stassen, CFO of Emerge Medical. "Emerge Medical's approach to standardizing these devices and removing those high costs through a streamlined supply chain has the potential to reduce a significant monetary burden on our healthcare system."
Marotta concluded, "Above all, Emerge Medical enables hospitals and physicians to deliver premium patient care without having to pay premium prices. This vision is akin to other game changing moments in industry, whether it's the introduction of generic pharmaceuticals or the Michael Dell vision that helped to revolutionize the PC market."
About Emerge Medical, Inc.
Emerge Medical, Inc. is a medical device company committed to reducing healthcare costs through the development of high-quality generic implants and instruments. The company currently offers standardized devices for the $2 billion orthopedic trauma market, with plans to expand its line of generic devices to reduce unnecessary expense throughout orthopedics and the larger $92 billion medical device industry. Emerge Medical is able to realize cost savings of up to 50 percent by leveraging a streamlined supply chain through which the company works directly with hospital administrators to eliminate much of the selling, general and administrative (SGA) cost traditionally associated with medical devices. Emerge Medical is based in Denver, Colorado. For more information on the company, please visit http://www.emergemedical.com.
Contacts: Emerge Medical John Marotta, Chief Executive Officer 1-866-553-0376
The Ruth Group (on behalf of Emerge Medical) Jason Rando/Lisa Cook Tel: +1 (646) 536-7025/7012 jrando@theruthgroup.com lcook@theruthgroup.com